I think Greenspan had a calming effect once all the returns were in and people had the opportunity to reflect on what he said.
More Quotes from Phil Dow:
You've got to get back to what really moves stocks, and that's earnings. It's not international conflict -- that's always been there. And the market has delivered, despite Vietnam, Sept. 11, and every other horrific thing we've had.Phil Dow
It's frightening if you chase performance. One reason why investors went into Japan is that they saw the markets perked up there.
Phil Dow
Try to buy those kinds of names when they're out of favor and hold on to them for long periods of time,
Phil Dow
The main problem is things keep getting worse in the technology space.
Phil Dow
There is an absolute certainty among investors that whatever news that happens is going to be bad. The October lows aren't sacrosanct and could be broken. We have a nation that's pre-occupied with what can go wrong. We'd need a booster shot of good news to move anywhere.
Phil Dow
This is the first evidence that things might be better than they thought, and I think traders don't quite know what to do. I think we've been conditioned to bad news -- it's like a beaten-up prize fighter. I think it's a dangerous time to look for more of the same, meaning looking for more negative.
Phil Dow
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I'm never going to retire.
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